Laconia updates on Rasuhuilca exploration

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THE DRILL SERGEANT: In an update released to the ASX today,  Perth-based exploration company Laconia Resources announced it had commenced exploration activities at its recently acquired 100 per cent-owned Rasuhuilca gold-silver project in Peru.

An underground check sampling program was successfully completed on existing development levels at the Rasuhuilca project.

The results included:

  • 12.5 metres at 5.99 grams per tonne gold and 373 grams per tonne silver from 4923 Level, and;
  • 10.5m at 1.88g/t gold and 61 g/t silver from 4890 Level.

According to its ASX release,  the company believes “there is good potential to increase the resource base.”  

“These results are positive and support initial pre-acquisition sampling results.”

Location plan, Rasuhuilca Project, Peru. Source: Company announcement

Laconia plans to commence drilling with a 2,200 metre, underground diamond drilling program from existing development levels due to commence in August (subject to permitting).

It has also planned extensional exploration drilling on the Rasuhuilca vein.

The project has an JORC compliant Inferred Resource estimate of; 360,000t at 1.97 g/t gold and 179 g/t Silver.

A feasibility study was completed at the project in 2008.

The study is now being reviewed and will be updated following results of the diamond drilling program.

Laconia aims to bring the project into rapid production and use revenues to unlock its major exploration upside.